Sen. Durbin Blasts Banks, VISA and MasterCard for Taking Advantage of Merchants For #SwipeFees


WASHINGTON, D.C.] Durbin spoke on March 17th, 2011 on the floor of the United States Senate in response to a Wall Street Journal editorial opposing critical reforms of the debit card swipe fee structure. The banking industry currently collects over $16 billion each year in non-negotiable debit swipe fees which hurt small business and result in higher prices for consumers.

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